Special Section

Retail sales in the Middle East are susceptible to lower oil prices and falling consumer demand, but international retail chains still view the region’s long-term investment prospects positively.

Emirates NBD returned a stellar performance in 2015, but this year looks to be an entirely different proposition. Shayne Nelson, Emirates NBD Group’s CEO, tells Global Finance how the bank plans to drive growth and why consolidation is needed in the UAE banking sector.

Abu Dhabi Islamic Bank was the first Islamic bank established in Abu Dhabi, in 1997, and has evolved to become one of the largest retail banks in the United Arab Emirates, with one of the strongest digital footprints of any bank in the UAE. ADIB increased full-year net profits by 10.5% in 2015 to reach 1.9 billion dirhams ($520 million). Global Finance sat down with ADIB’s CEO at the bank’s head office in Abu Dhabi.

Islamic banking assets in the Middle East are growing, and opportunities abound for Islamic banks to participate in the digital banking revolution, but efforts so far are falling short of customer expectations.